The Democratic Party raised 247 million dollars between January 1, 2007 and April 30, 2008, a sum that could prove crucial this election year, according to Federal Election Commission figures. The total is 24 percent more than the party raised during the same period in 2006-2007, and 45 percent more than it amassed in that time frame leading into the 2004 presidential election.
The Republican Party has raised more, but its totals are declining over time, according to the FEC data, released Monday. President George W. Bush's party raised 260.4 million dollars between January 2007 and April 2008 - 11 percent less than it raised in the 16-month period through April 2007, and 19 percent less than what it pulled in during the same time frame before the 2004 presidential election.
Part of the money raised by the parties can be used to finance the presidential campaign and the fight for legislative seats up for grab in the November election. The presidential candidates have also stocked their war chests, with Democrat Barack Obama far outpacing Republican John McCain. According to the FEC data, Obama raised a total of 265.4 million dollars by April 30, 2008 while McCain pulled in 90.5 million dollars in donations by that date.